Mr. Steve Roebuck reports

HIGH TIDE RESOURCES INITIATES HIGH-RESOLUTION DRONE MAGNETIC SURVEY AT LABRADOR WEST IRON PROJECT

High Tide Resources Corp. has commenced a high-resolution drone magnetic survey at the underexplored eastern portion of the Labrador West iron project. The geophysical program is now under way and will provide detailed magnetic data to support continuing exploration and drill targeting.

Steve Roebuck, president and chief executive officer of High Tide, commented: "Launching the drone magnetic survey marks another important step in expanding our understanding of the eastern portion of the property. This area has seen very limited exploration despite a 2010 IOC drill hole intersecting nearly 100 metres of 26.2 per cent iron. Prospecting has broadened the scope of potential drill targets, and this survey will help refine those opportunities with the high-resolution magnetic data. The data collected will directly support our targeting strategy as we advance toward the next phase of drilling and continue to build long-term value for the project."

Drone magnetic survey now under way

The drone magnetic survey is being flown over the eastern portion of the property, covering approximately 1,460 hectares. The program is designed to generate high-resolution magnetic data capable of mapping near-surface magnetite-specular hematite iron oxide mineralization and is an upgrade to the widely spaced historical total magnetic intensity data collected regionally by IOC (Iron Ore Company of Canada) in 2001.

Key technical details include:

• Approximately 704 line kilometres of magnetic data acquisition:
  • Line spacing: 25 metres;
• The survey is expected to support the detailed interpretation and delineation of iron oxide mineralization:
  • Data will directly guide the refinement of exploration drill targets.

Expanding the exploration footprint

The eastern portion of the property remains underexplored, with a single drill hole and regional geophysical surveys comprise the limited historical work:

• A single drill hole in 2010 (10LB0011) intersected approximately 100 metres of 26.2 per cent iron, demonstrating strong iron mineralization potential.
• Since that time, minimal exploration has been conducted.
• High Tide's prospecting has significantly expanded the number and scale of potential drill targets beyond the current resource footprint.

About High Tide Resources Corp.

High Tide is focused on and committed to the development of mineral projects critical to infrastructure development using industry best practices combined with a strong social licence from local communities. High Tide owns a 100-per-cent interest in the Labrador West iron project, which hosts a National Instrument 43-101 inferred iron resource of 655 million tonnes at 28.84 per cent iron and is located adjacent to IOC's Carol Lake mine in Labrador City, Nfld. This resource is exposed at surface and was pit constrained for an open-pit mining scenario. The technical report was filed on SEDAR+ on April 6, 2023, and was written by Ryan Kressall, MSc, PGeo, Matthew Herrington, MSc, PGeo, Catharine Pelletier, PEng, and Jeffrey Cassoff, PEng.

The company also owns a 100-per-cent interest in the Lac Pegma copper-nickel-cobalt deposit located 50 kilometres southeast of Fermont, Que.

Qualified person

The technical information contained in this news release has been approved by Steve Roebuck, PGeo, director, president and chief executive officer of High Tide, who is a qualified person as defined in NI 43-101, Standards of Disclosure for Mineral Projects.

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